I have already posted a reply to the first tower issue! read my post and the quote from the 10k!
In the article yesterday, they raise concerns re the performance of First Tower.
But actually from the 10k published yesterday (p74):
Due to improved operating results, the Board of Directors increased the fair value of our investment in First Tower to $326,785 as of June 30,
2014, a premium of $7,134 from its amortized cost, compared to the $9,869 unrealized depreciation recorded at June 30, 2013.
You are forgetting the New Century BK. I can't believe that they will make $0.32 EPS. I may be wrong but where will all the other income be coming from? And the new accounting rules don't start until this new quarter so forget about that stuff. I am long PSEC but I don't feel good about today's earnings.
you need to instruct your broker to inform BNY Mellon of your residence status and then you will get the 15% rate.
as sure as night follows day the ATM programme will be back. If you are not sure then please kindly study the economics of BDCs.
It is impossible that they covered the dividend this Q because of the New Century loan right off.
They have commented numerous times on the situation already. Have you not seen the press releases.
This is an email that I sent today to the above:
Dear Ms Becker,
I am a shareholder in the company and we have exchanged emails before.
Recently I have been worried because the company has managed to acquire an image problem.
In a nutshell, to be perfectly frank, the general impression out there is that Prospect Management is a greedy bunch who play games to inflate their fees.
Please kindly do something to get rid of this problem. A gesture is needed, perhaps waiving some incentive fees or other. This will encourage confidence.
You are a nice lady and your Mr Oswald is a nice man (he called me to chat about stuff a few years ago). I hope you will do something.
Thank you for the feedback on that question. We must wait and see for the appearance or otherwise of updated financials. The event of which may or may not cause another hiatus share price wise.
This is a tricky one. I have read all the recent SA articles which basically add nothing to the equation as they are working off the same publicly available information. I think all experienced observers know to take SA articles with a big pinch of salt. Same goes for the MF.
So, PSEC say that the effects of consolidation won't be so awful in which case why are they appealing?
Why haven't we seen any insider buys or are insiders barred from buying due to this SEC issue?
We are all in the dark at the moment. But I decided this was a hiccup rather than a fatal body blow and bought more at $10.19. It could all get worse of course. Only time will tell.
I read this. Unfortunately it is a fallacy to say that he will be able to explain what a restatement will mean. No one has this information yet. Also, the information necessary to comment on a restatement is just not out there either.
At the moment management is incentivised to increase assets under management but not necessarily per share results. Internal management would change all that. Barry would hate it though I guess.
It would appear that the serious money is made for investors by internally managed BDCs. TCAP and MAIN both have substantially lower costs and as a result have much better performance than PSEC. Have any BDCs ever converted over to become internally managed? We are paying 4% plus in fees pa at present as a % of assets. Internally managed BDCs are paying 2% plus or thereabouts.